This specification provides the definition of the Multiple interbank funds transfer message (FINPAY) to be used in Electronic Data Interchange (EDI) between trading partners involved in administration, commerce and transport.

The Multiple interbank funds transfer message may be used for both national and international applications. It is based on universal practice related to administration, commerce and transport, and is not dependent on the type of business or industry.

However, one FINPAY message must cover either credit transfers or debit transfers, i.e., these two functions must not be mixed in the same message.

The only way to modify a Multiple interbank funds transfer message is to cancel the whole message or part thereof (e.g., by using the FINCAN - Financial Cancellation message). In that respect, one to many transaction(s) could be cancelled within the message, avoiding the need to cancel the whole message.

This section should be read in conjunction with the segment table which indicates mandatory, conditional and repeating requirements.

The following semantic principles applying to the message are intended to facilitate the understanding of the message:

The Multiple interbank funds transfer message is structured in three levels: A, B, and C.

Level A contains general data related to the whole message and is contained in Segment Groups 1, 2, 31 and 32.

Level B contains information needed to effect the funds transfer, such as the total amount to be transferred, the value date, the currency, the charges allocation, and data which applies to all the dependent C levels and is contained in Segment Group 3 through Segment Group 11.

Level C contains data specific to the individual transactions and may contain remittance information. This data is considered as unique for each transaction and is contained in Segment Group 12 through Segment Group 30.

The structure of the message is designed to allow several B levels, each B level being followed by its related C levels.

A group of segments containing general information about the transaction, such as the total amount to be transferred. It also contains details which pertain to all individual payments specified within the group.

A group of segments containing the total of all the amounts of the subsequent C levels to be transferred. It may also specify the currency, the foreign exchange details, as well as any other relevant amounts.

A segment identifying the source currency and the target currency of the amount to be transferred when they are different, and indicating the exchange rate related to the account and amount to be converted.

A group of segments specifying the method for allocation of charges and allowances and to which account these charges have been directed. It may also contain the total amount of charges and allowances.

A segment containing the total amount of charges and allowances and associated taxes related to a specific account or to the same account as quoted in the preceding FII segment, specifying the account relationship(s). It may also contain the total of individual amounts calculated from a basis amount or the basis amount from which charges and/or allowances are calculated when this is different from the original amount.

A segment identifying the single amount of charges and/or allowances and specifying the basis amount from which these charges and/or allowances are calculated, when different from the transaction amount.

A group of segments containing instructions and related information from the sender or the receiver of the message to parties involved in the transaction. It specifies action to be taken by the identified parties and the date (and optionally time) by which such action needs to be taken.

A group of segments providing information for subsequent use by regulatory authorities requiring statistical and other types of data. It also identifies the regulatory authority for which the information is intended followed by the information itself.

SG19-SG20-SG23 A group of segments containing information relating to the transactions to be transferred, such as the financial and non-financial institutions involved, payment channel, amounts, dates, instructions. It may also contain remittance information related to the transactions.

A segment identifying the source currency and the target currency of the amount to be transferred when they are different, and indicating the exchange rate related to the account and amount to be converted.

A group of segments providing information for subsequent use by regulatory authorities requiring statistical and other types of data. It also identifies the regulatory authority for which the information is intended followed by the information itself.

A group of segments containing instructions and related information from the sender or the receiver of the message to parties involved in the transaction. It specifies action to be taken by the identified parties and the date (and optionally time) by which such action needs to be taken.

A group of segments providing full details of all charges, allowances and associated taxes that apply to the amount to be transferred, together with information as to who bears the charges and to which account they have been directed. A total value of all charges plus allowances may be given for every account to which charges may be directed.

A segment containing the total amount of charges, allowances and associated taxes related to a specific account or to the same account as quoted in segment group 16. It may also contain the total of individual amounts calculated from a basis amount or the basis amount from which charges and/or allowances are calculated when this is different from the original amount.

A group of segments providing details of all documents, e.g., invoices, statements, despatch advices, etc. to which the message refers. It includes information on the monetary amounts for each document and on any adjustments (with an indication of the reason for adjustments) and discounts. For information purposes an indication of the tax element can be provided.